Financial services firm Citi is launching Citi Travel later this year. The travel booking platform will be powered by Booking.com and its Rocket Travel subsidiary.

The portal is set to replace its existing City Thank You Travel Center website, and will offer hotel, air, and car hire options.

“Leveraging the scale and range of Booking.com, the new Citi Travel provides an unmatched breadth of hotel reservation options,” the companies said in a joint statement. “With more than 1.4 million hotels available worldwide — ranging from boutiques to beloved chains — there is the right option for every budget, vacation type and preference.”

Banks are continuing to develop travel products to gain more loyalty from their customers, giving them more options to spend their points. Capital One has recently invested in Hopper as well as private jet startup Aero.

Earlier this year, JP Morgan bought luxury travel agency Frosch, while in Nov. 2021, U.S. Bancorp acquired Will Smith-Backed TravelBank for $200 million.

Free Daily Newsletter

Sign up for the most popular Skift daily download of news, happening, and headlines in the travel world

Tags: banks, booking.com, capital one, hopper, jp morgan chase, loyalty, travel booking, travel technology